Madison Asset Management LLC Invests $1.74 Million in SiteOne Landscape Supply, Inc. $SITE

Madison Asset Management LLC bought a new stake in SiteOne Landscape Supply, Inc. (NYSE:SITE) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,046 shares of the industrial products company’s stock, valued at approximately $1,737,000.

Other large investors have also modified their holdings of the company. Comerica Bank raised its stake in SiteOne Landscape Supply by 24.4% during the fourth quarter. Comerica Bank now owns 134,716 shares of the industrial products company’s stock valued at $16,780,000 after buying an additional 26,436 shares in the last quarter. Bamco Inc. NY grew its position in shares of SiteOne Landscape Supply by 3.1% in the 4th quarter. Bamco Inc. NY now owns 2,028,366 shares of the industrial products company’s stock worth $252,653,000 after acquiring an additional 61,490 shares in the last quarter. Pier Capital LLC acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $3,787,000. Norges Bank acquired a new position in shares of SiteOne Landscape Supply in the 4th quarter worth approximately $18,925,000. Finally, Summit Creek Advisors LLC increased its holdings in shares of SiteOne Landscape Supply by 22.1% in the 4th quarter. Summit Creek Advisors LLC now owns 73,442 shares of the industrial products company’s stock valued at $9,148,000 after acquiring an additional 13,312 shares during the last quarter.

SiteOne Landscape Supply Price Performance

Shares of SITE opened at $103.30 on Thursday. The company has a market cap of $4.58 billion, a P/E ratio of 30.65, a PEG ratio of 1.38 and a beta of 1.34. The stock has a fifty day moving average price of $109.03 and a 200 day moving average price of $128.33. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 0.96. SiteOne Landscape Supply, Inc. has a 12 month low of $99.99 and a 12 month high of $168.56.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, April 29th. The industrial products company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.27). The company had revenue of $940.10 million during the quarter, compared to the consensus estimate of $982.27 million. SiteOne Landscape Supply had a net margin of 3.24% and a return on equity of 9.22%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.61) earnings per share. On average, research analysts forecast that SiteOne Landscape Supply, Inc. will post 4.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SITE shares. Zacks Research lowered SiteOne Landscape Supply from a “hold” rating to a “strong sell” rating in a research report on Monday, June 22nd. Barclays decreased their price objective on shares of SiteOne Landscape Supply from $148.00 to $129.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Stifel Nicolaus dropped their target price on shares of SiteOne Landscape Supply from $157.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Robert W. Baird set a $160.00 target price on shares of SiteOne Landscape Supply in a report on Thursday, April 30th. Finally, Bank of America reduced their price target on shares of SiteOne Landscape Supply from $182.00 to $167.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $156.64.

Insider Buying and Selling at SiteOne Landscape Supply

In other news, Director Fred M. Diaz sold 562 shares of SiteOne Landscape Supply stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $112.52, for a total transaction of $63,236.24. Following the sale, the director owned 11,267 shares of the company’s stock, valued at approximately $1,267,762.84. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company’s stock.

SiteOne Landscape Supply Profile

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.